In Brief
The Supreme Court dismissed the Revenue's appeal challenging a Tribunal decision on excise duty valuation. The issue involved whether the cost of bullet proofing added to Jeeps should be included in their transaction value for excise duty purposes. The Court held that since the Jeeps were cleared from the factory without bullet proofing, and the bullet proofing was performed by external job workers after clearance, the cost of this post-clearance modification could not be added to the taxable transaction value. The transaction value is determined at the point of factory clearance.
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